Strong property gains lift China markets, Hong Kong pares losses
* HSI -0.5 pct, H-shares -0.6 pct, CSI300 +0.7 pct
* China property sector jumps on easing expectations
* Li Ning at 3-month low after it warns of deeper H1 losses
* Liquor-makers rise on hopes for Hong Kong-Shanghai linkage (Updates to midday)
By Grace Li
HONG KONG, July 18 (Reuters) - China shares rose on Friday morning, reversing early losses as property counters surged after soft home price data triggered expectations of more mini-stimulus by local governments.
Hong Kong's benchmark index opened down almost 1 percent, following weaker U.S. bourses after news of a downed Malaysian airliner at the Ukraine-Russia border rattled investors.
Nearly 300 people were killed. A Ukrainian official said a missile was fired at the plane.
Some of Hong Kong's losses were erased after China markets regained momentum. Continuación...